{"id":1519,"date":"2016-10-20T12:19:17","date_gmt":"2016-10-20T16:19:17","guid":{"rendered":"http:\/\/www.acaweb.ca\/en\/?p=1519"},"modified":"2017-11-03T11:28:43","modified_gmt":"2017-11-03T15:28:43","slug":"how-to-build-a-high-powered-insights-engine","status":"publish","type":"post","link":"https:\/\/acaweb.ca\/en\/2016\/how-to-build-a-high-powered-insights-engine\/","title":{"rendered":"How To Build A High-Powered Insights Engine"},"content":{"rendered":"<figure id=\"attachment_17858\" aria-describedby=\"caption-attachment-17858\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.acaweb.ca\/en\/wp-content\/uploads\/sites\/2\/2016\/10\/10lores.jpg\" alt=\"Mario Simon, Kantar Vermeer and Ron Lund, ACA\" width=\"600\" height=\"400\" class=\"size-full wp-image-17858\" \/><figcaption id=\"caption-attachment-17858\" class=\"wp-caption-text\">Mario Simon, Kantar Vermeer and Ron Lund, ACA<\/figcaption><\/figure>\n<p>Operational skill once conferred competitive advantage; now it\u2019s table stakes. The new source of advantage is customer centricity: deeply understanding your customers\u2019 needs and fulfilling them better than anyone else.<\/p>\n<p>At ACA\u2019s October 4 <a href=\"http:\/\/www.acaweb.ca\/en\/aca-events\/aca-agm-executive-forum-building-an-insights-engine\/\">Executive Forum<\/a>, Mario Simon, CEO of Kantar Vermeer, shared fresh research into customer centricity, revealing that today\u2019s fast-growing brands turn troves of data into insights and those insights into a customer-focused strategy. <!--more-->Or, in other words, these companies all have finely-tuned \u201cInsights Engines.\u201d<\/p>\n<p>Speaking inside a theatre at <a href=\"http:\/\/www.corusent.com\/about\/corus-quay\/\" target=\"_blank\">Corus Quay<\/a> to a room full of marketers and agency executives, Simon went through the highlights of Kantar Vermeer\u2019s <a href=\"http:\/\/www.mbvermeer.com\/portfolio-itemmarketing2020\/\" target=\"_blank\">Marketing 2020<\/a> research from 2014, followed by an overview of its <a href=\"http:\/\/www.mbvermeer.com\/insights2020\/\" target=\"_blank\">Insights 2020<\/a> research, which found that customer-centricity and revenue growth go hand-in-hand.<\/p>\n<p>More specifically, over-performing companies (that is, companies that outpaced competitors in revenue growth), excel in three areas: total experience, customer obsession and their Insights Engine. <\/p>\n<p>Simon broke those three areas down further, highlighting what Kantar Vermeer has identified as the 10 key drivers of customer-centric growth:<\/p>\n<p><strong>Total experience: <\/strong><\/p>\n<ul>\n<li>Ensuring all activities are purpose-led<\/li>\n<li>\nUsing data-driven insights to customize the offer<\/li>\n<li>\nUsing Insights &#038; Analytics to create a consistent experience across all touch points<\/li>\n<\/ul>\n<p><strong>Customer obsession:<\/strong> <\/p>\n<ul>\n<li>Customer-centricity embraced by all functions of the company <\/li>\n<li>Customer-centricity is a priority for leadership<\/li>\n<li>Collaboration driven by having the right talent available for the right project<\/li>\n<li>Budgets allocated for experimentation<\/li>\n<\/ul>\n<p><strong>Creating An Insights Engine:<\/strong> <\/p>\n<ul>\n<li>A Leading role for Insights &#038; Analytics<\/li>\n<li>Unlocking the power of all the data available<\/li>\n<li>Changes to the Critical capabilities of people and I &#038; A\u2019s organization <\/li>\n<\/ul>\n<p>Kantar Vermeer found that at 51% of overperforming firms, Insights &#038; Analytics are leading the business. Their scores in the survey were four times greater than under-performers, indicating the importance of this shift \u2013 with Insights and Analytics teams moving from support roles to pro-active team players.<\/p>\n<p>Simon then laid out the 10 characteristics of a successful Insights Engine.<\/p>\n<ol>\n<li>Forward looking orientation<\/li>\n<li>Data synthesis <\/li>\n<li>Whole brain thinking <\/li>\n<li>Integrated planning <\/li>\n<li>Collaboration <\/li>\n<li>Experimentation<\/li>\n<li>Independence <\/li>\n<li>Affinity for action <\/li>\n<li>Business acumen <\/li>\n<li>Storytelling<\/li>\n<\/ol>\n<p>Of those traits, he took a closer look at talent and having whole-brained people on the Insights &#038; Analytics team, since far more respondents from overperformers than from underperformers agreed that their insights functions were skilled at whole-brain thinking (71% versus 42%).<br \/>\n\u201cThis is really quite powerful,\u201d Simon says. \u201cThe ability to fuse creative and analytical in one person and having teams that have that capability, is a capability of the future.\u201d<\/p>\n<p>In addition, independence for the Insights team is very important, Simon said, noting that at 29% of overperforming brands, the Insights team leader reports directly to either the CEO or board level, compared with 12% of underperforming companies.<\/p>\n<p>Lastly, Simon focused on the importance of storytelling \u2013 a trait shared by 61% of overperforming companies compared to 37% of underperformers.<br \/>\n\u201cTo be able to tell stories in ways that compel and capture people\u2019s attention in very simple and powerful ways is actually a business capability that only CEOs used to have,\u201d he said. \u201cAnd now everyone needs to have this skill.\u201d<\/p>\n<p>Simon concluded with eight takeaways that he admitted seemed obvious, but the research uncovered the majority of companies are not yet implementing:<\/p>\n<ul>\n<li>Focus on products and services<\/li>\n<li>Focus on Total Experience<\/li>\n<li>Focus on the details of data<\/li>\n<li>Focus on the actionability of data<\/li>\n<li>Manage risk<\/li>\n<li>Experiment<\/li>\n<li>Deliver to customers<\/li>\n<li>Co-create and innovate with customers<\/li>\n<\/ul>\n<p><em>ACA members can access the complete Executive Forum presentation video and slide deck by visiting ACA\u2019s <a href=\"http:\/\/www.acaweb.ca\/en\/aca-events\/acas-events-archive\/\" target=\"_blank\">Events archive<\/a>.<\/em>  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Operational skill once conferred competitive advantage; now it\u2019s table stakes. The new source of advantage is customer centricity: deeply understanding your customers\u2019 needs and fulfilling them better than anyone else. At ACA\u2019s October 4 Executive Forum, Mario Simon, CEO of Kantar Vermeer, shared fresh research into customer centricity, revealing that today\u2019s fast-growing brands turn troves [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[144],"tags":[258,599,600,601,602,603,604],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Build A High-Powered Insights Engine | Association of Canadian Advertisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/acaweb.ca\/en\/2016\/how-to-build-a-high-powered-insights-engine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Build A High-Powered Insights Engine | Association of Canadian Advertisers\" \/>\n<meta property=\"og:description\" content=\"Operational skill once conferred competitive advantage; now it\u2019s table stakes. The new source of advantage is customer centricity: deeply understanding your customers\u2019 needs and fulfilling them better than anyone else. 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